230 Pelham Rd Unit 4L · New Rochelle, NY 10805

$238,000

1 bd · 1.0 ba · 750 sqft · Condo · 96 Days on market

Built 1951 Good condition $317/sqft · at area comps Est $237k · at est.

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.4/30.0
• ARV discount +7.3/15.0
• DSCR +6.5/10.0
• Schools +5.7/10.0
• 1% rule +5.4/10.0
• Appreciation +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Welcome to this charming one-bedroom apartment located in the desirable south end of New Rochelle, just moments from the scenic waterfront of the Long Island Sound. Convenient location close to shopping, dining, parks, and everyday essentials. Located approximately one mile from the New Rochelle Metro-North Station, commuters can reach Grand Central Terminal in about 35 minutes via the New Haven Line. The upcoming Metro-North New Haven Line connection to Penn Station will provide even greater access and commuting flexibility in the near future. Residents enjoy a variety of desirable building amenities including a fully equipped fitness center, community room, conference room, bike room, and additional storage available. Outdoor parking is available via waitlist for $100 per month or indoor parking for $125 per month. Enjoy coastal living with city convenience—an excellent opportunity to own in vibrant New Rochelle.

Key facts

• Scenic waterfront
• Bike room
• Conference room

Tags

• SCENIC WATERFRONT
• FULLY EQUIPPED FITNESS CENTER
• COMMUNITY ROOM
• CONFERENCE ROOM
• BIKE ROOM
• ADDITIONAL STORAGE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $238k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $238k).
• Recommended offer: $217k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 4.5% in New Rochelle — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#487 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, amenities B+; Watch: housing D+, commute F, cost of living F.
• New Rochelle City School District (suburban): math 63% / reading 66% proficiency, ranked #171 of 590 in NY (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 84 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.5%/yr); year-one equity from $2k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($217k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $216,580 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.54%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (median comp): $236,791
• List price: $238,000
• Delta: 0.51%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-1.48% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.95×
• Total profit: $-3,349
• Equity at exit: $52,050

10-year hold

• IRR: 6.1%
• Equity multiple: 1.55×
• Total profit: $36,752
• Equity at exit: $50,178

Cash invested: $66,640 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 10805

• Home prices YoY: -0.5%
• Active inventory: 84
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,472 high
• Mortgage (P&I): −$1,248
• Tax est. 1.5%: −$298 /mo · $3,570/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $308

Break-even live

Break-even rent $2,082

Max offer price $238,000

Occupancy floor 83%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $59,500
• Closing costs: $7,140
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	900	$2,150	$2.39	11d	2	0.02mi
220 Pelham Rd Unit 5E New Rochelle, NY	2.0	1.0	1000	$2,595	$2.60	7d	1	0.02mi
220 Pelham Rd New Rochelle, NY	1.0–2.0	1.0	862	$2,195	$2.54	1d	2	0.02mi
230 Pelham Rd Unit 6F New Rochelle, NY	1.0	1.0	800	$1,995	$2.49	43d	1	0.04mi
3 Davenport Ave New Rochelle, NY	1.0	1.0	821	$2,099	$2.56	6d	1	0.30mi
79 S Division St Unit 3 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	3d	1	0.35mi
50 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	844	$5,007	$5.93	1d	31	0.46mi
46 Locust Ave Unit 2 New Rochelle, NY	2.0	1.0	750	$2,950	$3.93	19d	1	0.49mi
55 Clinton Pl New Rochelle, NY	2.0	1.0–2.0	910	$3,721	$4.09	1d	28	0.50mi
111 Centre Ave New Rochelle, NY	1.0–2.0	1.0–2.0	787	$2,847	$3.62	1d	17	0.52mi
25 Maple Ave New Rochelle, NY	2.0	1.0–2.0	748	$3,054	$4.08	4d	12	0.53mi
12 Church St New Rochelle, NY	2.0	1.0–2.0	770	$3,536	$4.59	3d	50	0.54mi
543 Main St #402 New Rochelle, NY	1.0	1.0	924	$3,000	$3.25	15d	1	0.60mi
504 Pelham Rd New Rochelle, NY	1.0	1.0	700	$2,300	$3.29	13d	1	0.60mi
360 Huguenot St New Rochelle, NY	2.0	1.0–2.0	764	$2,945	$3.85	2d	15	0.60mi
7 Lanecrest Ave New Rochelle, NY	2.0	1.0	1100	$2,690	$2.45	17d	1	0.62mi
10 Lecount Pl New Rochelle, NY	2.0	1.0–2.0	740	$3,764	$5.08	1d	14	0.62mi
387 Huguenot St New Rochelle, NY	2.0	1.0–2.0	753	$2,808	$3.73	4d	6	0.62mi
40 Memorial Hwy New Rochelle, NY	3.0	1.0–2.0	917	$3,158	$3.44	1d	51	0.64mi
333 Huguenot St New Rochelle, NY	2.0	1.0–2.0	853	$3,562	$4.17	2d	12	0.65mi
325 Huguenot St New Rochelle, NY	1.0–2.0	1.0–2.0	989	$2,855	$2.89	5d	8	0.67mi
1 Shearwood Pl New Rochelle, NY	3.0	1.0–2.0	896	$2,922	$3.26	2d	31	0.72mi
12 Russell Ave Apt 2 New Rochelle, NY	2.0	1.0	800	$2,350	$2.94	7d	1	0.78mi
3 Harbor Ln Unit 3A New Rochelle, NY	1.0	1.0	700	$2,500	$3.57	24d	1	0.80mi
10 Commerce Dr New Rochelle, NY	2.0	1.0–2.0	792	$3,094	$3.91	1d	11	0.87mi
20 Burling Ln New Rochelle, NY	1.0	1.0	725	$3,110	$4.29	10d	10	0.89mi
245 Main St Unit 1 New Rochelle, NY	1.0	1.0	750	$1,750	$2.33	17d	1	0.89mi
29 Pratt St Unit 2 New Rochelle, NY	2.0	1.0	800	$2,600	$3.25	43d	1	0.94mi
666 Pelham Rd Apt 3A New Rochelle, NY	1.0	1.0	750	$2,350	$3.13	43d	1	0.96mi
11 Park Pl New Rochelle, NY	1.0	1.0	1015	$2,700	$2.66	43d	1	1.01mi
36 4th St Unit One New Rochelle, NY	2.0	1.0	900	$2,900	$3.22	4d	1	1.14mi
965 Main St Unit 2 New Rochelle, NY	2.0	1.0	825	$2,995	$3.63	7d	1	1.19mi
139 Sickles Ave Unit 2 New Rochelle, NY	2.0	1.5	1000	$3,100	$3.10	20d	1	1.19mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	43d	1	1.22mi
49 5th St Apt 8 New Rochelle, NY	2.0	1.0	800	$2,429	$3.04	13d	1	1.22mi
299 Webster Ave Unit 3F New Rochelle, NY	1.0	1.0	861	$2,385	$2.77	43d	1	1.22mi
274 Lockwood Ave Unit First floor New Rochelle, NY	2.0	1.0	908	$2,700	$2.97	43d	1	1.27mi
225 Sickles Ave Unit 1 New Rochelle, NY	1.0	1.0	750	$2,600	$3.47	43d	1	1.30mi
110 Stonelea Pl Unit 3B New Rochelle, NY	2.0	1.0	800	$2,650	$3.31	43d	1	1.33mi
17 Dewitt Pl New Rochelle, NY	2.0	1.0	550	$2,500	$4.55	43d	1	1.34mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watergym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $238,000 Active 96 DOM
2. 2026-06-17
   days on market $238,000 Active 95 DOM
3. 2026-06-16
   days on market $238,000 Active 94 DOM
4. 2026-06-15
   days on market $238,000 Active 93 DOM
5. 2026-06-13
   pricedays on market $238,000 Active 91 DOM
6. 2026-06-09
   days on market $240,000 Active 87 DOM
7. 2026-06-08
   days on market $240,000 Active 86 DOM
8. 2026-06-07
   days on market $240,000 Active 85 DOM
9. 2026-06-04
   days on market $240,000 Active 82 DOM
10. 2026-06-03
    days on market $240,000 Active 81 DOM
11. 2026-06-02
    days on market $240,000 Active 80 DOM
12. 2026-06-01
    days on market $240,000 Active 79 DOM
13. 2026-05-31
    days on market $240,000 Active 78 DOM
14. 2026-03-08
    listed $240,000 Active 934-char remark

    Show marketing remark (934 chars)

    Welcome to this charming one-bedroom apartment located in the desirable south end of New Rochelle, just moments from the scenic waterfront of the Long Island Sound. Convenient location close to shopping, dining, parks, and everyday essentials. Located approximately one mile from the New Rochelle Metro-North Station, commuters can reach Grand Central Terminal in about 35 minutes via the New Haven Line. The upcoming Metro-North New Haven Line connection to Penn Station will provide even greater access and commuting flexibility in the near future. Residents enjoy a variety of desirable building amenities including a fully equipped fitness center, community room, conference room, bike room, and additional storage available. Outdoor parking is available via waitlist for $100 per month or indoor parking for $125 per month. Enjoy coastal living with city convenience—an excellent opportunity to own in vibrant New Rochelle.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $29,661
• − Mortgage interest: −$13,332
• − Property taxes: −$3,570
• − Insurance: −$1,190
• − Repairs & maintenance: −$2,373
• − Management: −$2,373
• − Depreciation: −$6,924
• Taxable loss: −$100
• Est. tax savings @ 24.0%: +$24
• After-tax cash flow: $3,719/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This one-bedroom apartment in a desirable location is in good condition with minimal repairs needed. It offers a good return on investment with potential for value increases through cosmetic updates.

Value-add opportunities

• Both Painting exterior brick — Enhances curb appeal and can increase property value
• Both Landscaping improvements — Enhances curb appeal and can increase property value
• Both New flooring in kitchen and bathrooms — Modernizes the space and can increase property value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior brick — Enhances curb appeal and can increase property value ↑
• Both Landscaping improvements — Enhances curb appeal and can increase property value ↑
• Both New flooring in kitchen and bathrooms — Modernizes the space and can increase property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: New Rochelle City School District
• NCES district ID: 3620490
• Math proficiency: 63% ▲ 3.00%
• Reading proficiency: 66% ▲ 9.00%
• Median HH income: $69,165
• Composite: 56.63/100
• National rank: #1139
• State rank: #171 of 590 in NY

Livability — New Rochelle

• Score: 69/100
• State rank: #487
• US rank: #8572

Category grades

Amenities B+ Commute F Cost of living F Crime A Employment A+ Housing D+ Health & safety B+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Rochelle, NY
• County: Westchester County · 709,332 people
• City population: 63,657
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 20,903
• Household income: $102,109
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 961.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 39% White 38% Black 17% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 15% Puerto Rican 11% Dominican 2%
• Common ancestry: Romanian 2% Russian 1% Scotch-Irish 1%
• Foreign-born: 32% · Canada, Jamaica, South Korea
• Languages at home: 54% English-only · Spanish 32% Other Indo-European 7% German/W. Germanic 2%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.48%
• Current HPI: 278.8511
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

1 event — show timeline

• 2026-03-08 Listed $240,000 OneKey® MLS as Distributed by MLS Grid